Thursday 19 backend.Sep
Talaat Moustafa Holding Company, a leading conglomerate, is preparing to expand its operations into Iraq. The company is currently assessing the legal and technical requirements for implementing a series of projects in the neighboring country, according to an informed source.
The company has stated that it
will disclose the specific details of these projects once the necessary
administrative processes are complete.
The move comes on the heels of a
recent visit by Iraqi Prime Minister Mohammed Shia' Al Sudani to Egypt, where
both countries explored opportunities for enhanced bilateral cooperation. The
Iraqi government has expressed keen interest in attracting foreign investment
to support its infrastructure development plans.
It is worth noting that the financial performance of TMG Holding has been strong, with net profits surging to 6.36 billion Egyptian pounds in the first half of 2024, a significant increase from the 1.55 billion pounds recorded in the same period of the previous year. Revenues during this period also rose to 17.02 billion Egyptian pounds, up from 10.7 billion pounds in 2023.
